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Crypto-analysis

Bitcoin Meets Powerful Resistances, to the moon or to the mud! Hello traders! You may be wondering... why can't Bitcoin break $40k so easily like the previous resistances? Today, I will explain with an analysis of why. Let's look at the diagram above. If we notice, there is strong resistance, the red dashed line, and the Fibonacci line. This may explain why it was so difficult to penetrate the $40k levels. Just look at the daily chart: Wow, tough. But it doesn't end there. IF we look at the RSI in the chart, we just bumped all-time high resistance! This makes the resistances at $40k even more powerful! Oversold RSI makes it scary... We don't end it here. The last time Bitcoin had a rally from the lower channel to the middle channel line, it miserably failed. Just look: Will we have the same thing happen? We have some support that the same thing may happen: 1. 5-wave Elliot, trend completed according to this evidence The image explains itself. Yikes! 2. Divergence Patterns, head and shoulders in Stochastics Image explains itself. 1 image = 1000 words 3. Parabolic Increase with both 300% increase Image explains itself again. 100 words = blurry images These factors increase the chance that we go to the floor, not the ceiling. What do you think? Tell me in the comments below! Based on these present-and-past facts, we can't decide just YET. It is a do or die, folks, and a matter of price and time. Good luck! Do not forget to click that like and follow buttons! Cheers!
BITSTAMP:BTCUSD
by Trader_ph
4
Bitcoin Correction Price targets! Live stream this afternoonWe hit our 41,937 price target from December almost on the damn nose! Clear bearish divergence at the 40,700 rejection yesterday. I tried to take a couple small positions as we came down but the momentum just kept going. We had a lot of support at 32,300 but have found ourselves bouncing off the 30k handle. I do not fully trust this is the bottom, but i dont think its the range we will start finding support in either. I think we MAY see a flash move down to lower areas where buy orders will be hit, resulting in a swift momentum to the upside. I dont really have a time frame but ive set up orders for when it happens We are printing hidden bullish divergence on the MACD hourly chart, but im not sure if the momentum is strong enough to pull us back up higher than 33178 short term That would be an area id watch for a reversal back to the downside. If we break the heartline support trend, and 30k support we could fill a futures gap as low as 25-26 I dont believe we will stay in that range but if you have cash on the side and want to do some averaging, id consider setting up a limit order for some lower levels If we continue to the upside from here, i will be a buyer above 34500 if we get solid confirmation of support but im focused mainly on trying to land a nice lower position 29500 28500 27500 and a big one in at 26500
COINBASE:BTCUSDShort
by TradingNomadic
4
NEO in HS pattern around neckline.This crypto currency is reaching point of control for bottom in March at 1D chart. I personally not buying. But it will be interresting to wach, how this pattern figure out. Beam indicator is green and volume tightening so breakout is near. However, if NEO fall below lower blue rising line, I expect this asset below 10usd ( HS target ). This HS is officialy broken. Conclusion probably come next week with Bitcoin direction. Let's see what happen. *This is not a financial advice.
BINANCE:NEOUSD
by Emvo
a Look at Bitcoin's Elliot WavesHello Traders, One thing I always insist on is considering Monthly and Weekly timeframe for your bias. Simply switching to these timeframes will clear things for you very well. give it a try and start looking at the BLX chart and make sense of it for yourself. It will save you from bad trading decisions with BTC in this situation. M15 M30 H1 H4 timeframes are not reliable at this market condition to find your bias. You find a triangle on H1 and the price breaks it to the both side just not reliable. Weekly is super clear at the moment, if you switch to the weekly you can tell the money is leaving the market and BTC is expected to rollover to the lows it made a few weeks ago. Please share
BNC:BLXShort
by FOXofLA
BTC - Elliot Wave Count (Update)So far, my last BTC analysis is playing out nicely. Here is the update, from what i can see we are likely in completion of the wave 3 on the wave down. This should be followed by a wave 4 that can have a healthy upwards retracement - before the final wave 5 down. Wave 4 sometimes can end up forming a triangle, or a simple abc up. Lets see what plays out. Keep in mind, wave 5 can have similarities in size to wave 1, however doesn't have to. So can we blast lower than $8500 range? Absolutely. One thing is for sure, BTC is on sale! Limit orders FTW? Not financial advice, just my analysis.
BITSTAMP:BTCUSD
by Elliot618
WABIBTC Retrace Before Next Impulse Move !Hello Traders! Today’s chart will be on WABIBTC after its initial rise! Points to consider, - Resistance broken, turned potential support - Fibonacci extension; 1.618 Met - Fibonacci extension is in confluence with resistance - RSI is currently overbought - Stochastic momentum is topping out - Potential volume climax - EMA’s has not met price at given time - VPVR showing low volume of transactions after next resistance - Potential cup and handle patter (Not a pretty one), with 40% potential target WABI has had a bullish break from resistance which now currently turned potential support, (yet to be tested). Big bull volume came in to fruition whilst it tested the 1.618 Fib extensions before sellers came in to control price. The 1.618 zone is in confluence with structural resistance, making this area tough for bulls to break; WABI could potentially see a correction from this area back to support – which will be healthy! The RSI is currently over extended whilst the Stoch is showing a sign of topping out, this is signalling that sellers are strong at current area, we need to see these indicators cool off to neutral territory… Volume has overall increased dramatically after the bull break, EMA’s are yet to test price so we do not know if they’ll hold support or not in current given time. Bulls have an overall upper edge if the next resistance is broken as the VPVR shows very low levels of transactions. Bulls should easily be able to push price to upper green zone… This formation resembles somewhat to a cup and handle (not the best looking one), that broke bullish, price will be healthy if it retraces and retests support. This will allow the RSI and Stochs to return to neutral zones before bulls take charge and push price even higher with greater momentum… What are your thoughts? Will WABI retrace back to support before breaking resistance with momentum? Please leave a like and comment And remember It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett
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by The_Alchemist_Trader_